Business performance
analysis
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IT services for foreign markets
Global 500 clients
Mr. Pham Minh Tuan
Executive Vice President of FPT
CEO of FPT Software
2025 marked a strategic turning point for the Company as it transformed into an AI‑First Company, positioning AI as the core foundation across all services, processes, and engineers. AI has been embedded throughout the entire software development lifecycle and project delivery, alongside the launch of FleziPT, the AI platform underpinning the Company’s AI‑First strategy. This has driven an 8.2% productivity increase and laid the groundwork for our long‑term, sustainable growth.
Entering the next phase, we are focusing on three strategic pillars to accelerate sustainable growth: Transforming the entire engineering workforce into AI‑augmented engineers; Partnering with hyperscalers to develop and commercialize industry‑specific AI solutions at a hundred‑million‑dollar scale; as well as shifting the service portfolio to AI‑First, with the ambition that AI is embedded in every service and AI‑First revenue accounts for approximately one‑third of our total revenue. These pillars form the foundation for deepening strategic partnerships and delivering greater value to global clients in the AI era.
In 2025, IT services for foreign markets continued to serve as a core growth pillar of FPT’s strategy, delivering revenue of 35,382 billion VND, up 14.3% year‑on‑year, and profit before tax of 5,467 billion VND, an increase of 14.6%. These results were achieved amid persistent challenges facing the global IT services industry, including prolonged geopolitical uncertainty, tight monetary policies in major economies, heightened corporate scrutiny of IT budgets, and extended investment decision cycles.
The quality of growth within FPT’s IT services for foreign markets segment improved significantly. This is clear from a growing portfolio of long-term, large-scale contracts and an increasingly comprehensive service scope. Sustaining steady growth under difficult market conditions underscores the Corporation’s strong adaptability, competitiveness, and strengthening position within the global IT value chain.
The continuous signing of contracts valued from tens to hundreds of millions of USD across key markets has enabled FPT to progressively build a stable and highly predictable revenue base over the medium and long-term. At the same time, the shift from Time & Materials delivery models to Managed Services and end-to-end solution contracts has contributed to margin expansion, reduced cyclical risk, and greater value creation for clients.
Newly signed revenue from IT services for foreign market reached VND 40,636 billion, up 23.2% year-on-year. During the period, FPT also secured 26 large-scale contracts valued at over 10 million USD each, doubling the number recorded in the same period last year.
Strengthening presence and position in strategic markets
Revenue structure of IT services for foreign markets
- Japan
- The U.S.
- Europe
- Asia-Pacific
- Unit: Billion VND
- Japan
- The U.S.
- Europe
- Asia-Pacific
- Unit: Billion VND
FPT continued to expand its operating scale and strengthen its position within the global IT value chain across strategic markets. In Japan, the Corporation’s key market and one of the most demanding in terms of service quality, FPT marked a significant milestone by securing its first contract valued at over 100 million USD. This achievement reflects a clear shift in the cooperation model, from short‑term, small‑scale contracts to long‑term strategic partnerships closely aligned with customers’ core product and technology development.
Building on this foundation, FPT has continued to expand joint ventures and strategic alliances in Japan, focusing on sectors with long‑term demand such as IT modernization, smart manufacturing, and automotive technologies. These initiatives deepen customer engagement while raising competitive barriers.
Across the Asia‑Pacific (APAC) region, FPT has strengthened its presence in key industries, particularly energy and manufacturing. The 256 million USD comprehensive digital transformation and AI contract signed with a leading Asian energy group represents the largest deal in the Group’s history, underscoring FPT’s capability to deliver highly complex, large-scale and strategic projects. This contract helps reinforce the role of Southeast Asia and the broader APAC region in FPT’s long-term growth strategy, while opening up opportunities to expand into adjacent areas across the energy and industrial value chains.
In Europe and North America, FPT continued to scale its operations through large‑scale digital transformation engagements and partnerships with leading technology and IT infrastructure service providers. By assuming the role of champion vendor and lead partner for multi‑country projects, FPT is steadily enhancing its competitive standing and positioning itself to participate in global‑scale digital transformation programs.
Shifting the service portfolio up the value chain and leading AI transformation
Amid ongoing pressure on the global IT services industry from tightened client budgets and intensifying competition, Digital transformation services continued to serve as FPT’s engine of high‑quality growth. Revenue from Digital transformation services reached 16,751 billion VND, up 16.8% year‑on‑year, accounting for 47.3% of total IT services for foreign markets revenue. This performance reflects a clear customer shift toward strategic, high‑impact initiatives that directly enhance operational efficiency and long‑term competitive advantage.
Digital transformation services revenue in 2021-2025 period
- IT services for foreign markets revenue
- Digital transformation services revenue
Unit: Billion VND
FPT’s digital transformation service portfolio continued to expand in line with global technology megatrends. Cloud computing remained the largest contributor, driven by strong demand for IT infrastructure modernization and operational cost optimization, accounting for 36.6% of Digital transformation services revenue. AI and Data Analytics also recorded robust growth of 41% year‑on‑year, as enterprises accelerated AI adoption to improve productivity, enable data‑driven decision‑making, and reinvent business models.
In 2025, in response to the rapid evolution of technology and the increasingly intensive adoption of AI among global enterprises, FPT launched FleziPT as a key milestone in its journey of becoming an AI‑First Company. FleziPT not only enhances internal productivity and operational efficiency by redefining the software development and delivery processes but also provides a strategic foundation for FPT to deliver deep, domain-specific AI solutions tailored to the needs of different customer segments. Serving as a core AI platform, FleziPT enables FPT to scale its AI‑First strategy, shorten development timelines, and increase the share of AI‑First services revenue in the years ahead.
FleziPT – A Flexible AI platform with proven methodologies and solutions
By effectively combining technological capabilities, deep domain expertise, and a highly well-trained engineering workforce, FPT has steadily strengthened its role as a strategic digital transformation partner, accompanying clients in long‑term transformation programs. Building on this foundation, Vietnam and FPT are increasingly becoming critical links in the global IT services value chain, with the ability to compete alongside leading global players in the industry.
Expanding competitive capabilities through partnerships, joint ventures, and strategic investments
FPT continues to pursue a consistent strategy of partnerships, joint ventures, and investments to scale operations, enhance capabilities, and strengthen its position within the global technology ecosystem. In Japan, FPT has expanded its joint‑venture model with leading corporations, focusing on manufacturing modernization, automotive technologies, and deep industry‑specific IT systems.
In parallel, FPT has executed strategic investments and M&A activities across Southeast Asia, South Korea, and Europe to broaden its service offerings in Business Process Services (BPS), Managed Services, SAP/ERP, and specialized technology consulting. These transactions enable FPT to expand market coverage rapidly, to strengthen its pool of experienced experts, and to enhance its ability to deliver large‑scale, multi‑country projects.
Additionally, expanding technological capabilities, establishing strategic partnerships with global organizations in the sports and financial investment sectors has contributed to enhancing FPT’s global brand recognition, while opening up opportunities to engage with major private enterprises in Europe and the United States. FPT has become a consulting and technology implementation partner for Chelsea FC, enhancing fan engagement and delivering immersive experience both at the stadium and across the club’s media channels. The Corporation has also entered into a Platinum Partnership with Clearlake Capital Group, a global investment firm managing USD 90 billion in assets and co-owner of Chelsea FC, thereby expanding the delivery of advanced technology services, solutions, and platforms across multiple industries, particularly in the private sector.
High‑quality workforce as a key driver of advanced technologies
Several flagship business programs – notably in automotive technology, healthcare, data, and cloud computing – surpassed 100 million USD in revenue for the first time. These results underscore the effectiveness of FPT’s industry‑focus and platform‑focused strategy, as well as its ability to execute consistently at global scale.
Revenue from AI/Data Analytics Services
- Unit: Billion VND
- Unit: Billion VND
Alongside business expansion, FPT has been progressively transforming its engineering workforce into an AI‑augmented engineer model, embedding AI directly into software development processes, project management, and internal operations to improve productivity, shorten delivery timelines, and optimize costs.
In parallel, the Corporation has rolled out large‑scale AI training and reskilling programs, aiming to democratize AI capabilities across the majority of its engineering workforce, while establishing AI Centers of Excellence in key markets. With a firm foundation of expert talent, technology platforms, and an integrated training ecosystem, FPT is well positioned to capture the AI wave and scale global digital transformation programs in the years ahead.
Average number of employees in services segment for foreign markets and labor productivity
| Criteria | 2024 | 2025 | +/- |
|---|---|---|---|
| Average Total Workforce (Employees) | 28,814 | 31,208 | 8.3% |
| Average Production Workforce (Employees) | 26,586 | 29,899 | 12.5% |
| Revenue per Employee (million VND) | 1,307 | 1,116 | 7.6% |
